The Hindu : Business : Tata Steel's major initiatives in Jharkhand

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Friday, Sep 09, 2005

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Tata Steel's major initiatives in Jharkhand

Special Correspondent

To cooperate in the field of human resource development

MUMBAI: The Government of Jharkhand and Tata Steel on Friday signed four separate memorandums of understanding (MoUs) relating to setting up of new greenfield steel capacity and enhancement of capacity of the Jamshedpur works at a cost of Rs. 53,000 crore.

The MoUs include setting up a 12 million tonne greenfield integrated steel plant in the Manoharpur and Chandll areas of Jharkhand with an investment of Rs 42,000 crore, expansion of Tata Steel's existing plant at Jamshedpur from five million tones to ten million tonnes annually with an investment of Rs. 11,000 crore, co-operation in the area of human resource development through polytechnic, and co-operation in the area of human resource development through Industrial Training Institutes (ITIs). The MoUs were signed in the presence of Arjun Munda, Chief Minister of Jharkhand, and Ratan Tata, Chairman, Tata Sons Ltd.

Greenfield plant

According to the MoUs, the 12-million tonne greenfield integrated steel plant will be set up in two phases. The expansion of the Jamshedpur works from the present five million tonnes to ten million tones annually is also expected to be undertaken in two phases. The Government of Jharkhand and Tata Steel have also entered into two MoUs to cooperate in the field of human resource development with an objective to impart technical and job oriented training to youth in the State through upgradation of polytechnics and industrial training institutes.

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